Complaint Review: WELLS FARGO HOME MORTGAGE

I applied to refinance with my mortgage company Wells Fargo. My loan with them was around $110,000, and I wanted to borrow $20,000 to refinish my basement. I also wanted the 4.5 interest rate. I paid for a credit report which the Wells Fargo agent said came back excellent. I also have never missed or have been late with a payment over the 5 years I have paid them my mortgage. My income is well above the national average, and the agent told me my loan would be fine. I was asked to pay $356 for an appraisal. I was never told that there is no refund if my loan is not approved. If I had any idea my loan would not be approved I would have never paid for the appraisal.

I applied for the loan in April 2009, and every month they would call me to notify me my loan had expired. I would then have to resend my pay stubs, and other paperwork. They finally contacted me in September, and said my loan has been rejected. They offered me a counter offer for half the amount. At this point my basement has been done for two months already. I had to obtain another loan. I asked to refinance with no money back to get the lower interest rate. They said it would cost me 4-5 thousand dollars to do this. I explained to them that I'm not a new customer. I don't want any money back, they messed up the loan in the first place. I called, and asked for my $356 to be refunded. They refuse to answer my calls.

Wells Fargo mislead me with this loan. I work hard for my money, and would like a refund for the $356.